Gold moved past the $1,900 mark on Tuesday but swiftly retraced its gains to finish over 3% lower on the day. This was the largest daily slide in one and a half years with the precious metal having advanced by over $300 since the start of August. Gold bulls could well be taking profits off the table in anticipation of Fed Chairman Ben Bernanke failing to announce a fresh stimulus program later this week. From a price action perspective we have a bearish engulfing candle at a swing high. The candle has closed at 1828.28 which is just shy of the daily 1823.04 low. S1 support is the 11/8/11 daily high at 1814.45. S2 ... (full story)